Red Co. has a long-term construction contract that qualifies for revenue to be recognized over time. When Red is determining the amount of income to recognize for year two, which of the following items would Red not use in this calculation?1- Actual cost to date2- Income recognized in year one3- Progress billings to date4- Total expected cost

If the ceo of a large, diversified, firm were filling out a fitness report on a division manager (i. e., "grading" the manager), which of the following situations would be likely to cause the manager to receive a better grade? in all cases, assume that other things are held constant. a. the division's basic earning power ratio is above the average of other firms in its industry. b. the division's total assets turnover ratio is below the average for other firms in its industry. c. the division's debt ratio is above the average for other firms in the industry. d. the division's inventory turnover is 6, whereas the average for its competitors is 8.e. the division's dso (days' sales outstanding) is 40, whereas the average for its competitors is 30.